Inspection Reason

Many investors made telephone calls to the inspection team in recent asking for more exposure of New Zealand licensed brokers whose real addresses were different from their regulation address. According to investors’ feedback, the inspection team designated a surveyor to visit SP MARKETS in New Zealand and have an intutitive view of the broker.

Office Building

According to the regulation information, the New Zealand licensed broker was located at18/39 Apollo Drive Rosedale Auckland 0632. The surveyor decided to visit the broker.

The surveyor found not the building indicated by the regulation address but an office building nearby.

Featured Photos

The surveyor entered the building, walked to the 2rd floor and found there were three companies having offices on this floor. In order to ensure the accuracy of the inspection result, the surveyor asked an employee of one of the companies whether SP MARKETS had an office here. The employee pointed at an office opposite to the office in which he worked and said SP MARKETS used to have an office here but now its office was moved. He was not quite sure about its new address. 

The surveyor then came to the office at which the employee pointed. The surveyor looked inward from the doorframe and found the office was large.

Conclusion

It was confirmed after the surveyor’s inspection that the real address of SP MARKETS in New Zealand was different from its regulation address. As was indicated by SP MARKETS’s financial service license (RN:548547) has been canceled.